Renewable energy stocks gain amid CRESS surcharge reduction

BURSA SGX Home Hot Stocks Make The Edge Malaysia your preferred source on Google KUALA LUMPUR (Sept 23): Renewable energy stocks climbed on early session on Wednesday, led by Samaiden Group Bhd (KL: SAMAIDEN ) following the recent announcement of the CRESS Acceleration Package.

Samaiden jumped 17 sen or 7% to RM2.51, while Solarvest Holdings Bhd (KL: SLVEST ) rose 14 sen or 4% to RM3.84.

On Sept 18, the Ministry of Energy Transition and Water Transformation (Petra) lowered the CRESS System Access Charge (SAC) for firm supply to 14 sen/kWh, from 20 sen/kWh currently.

Qualifying projects must achieve Commercial Operation Date (COD) by Dec 31, 2028 and enter into a minimum 10-year developer-offtaker contract. Projects that miss the deadline will revert to the prevailing SAC and terms, with no extension allowed.